Mirabella Financial Services LLP Purchases 39,757,462 Shares of Alcoa $AA

Mirabella Financial Services LLP increased its position in shares of Alcoa (NYSE:AA) by 12,233.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,082,462 shares of the industrial products company’s stock after purchasing an additional 39,757,462 shares during the period. Alcoa makes up approximately 41.3% of Mirabella Financial Services LLP’s portfolio, making the stock its largest position. Mirabella Financial Services LLP owned about 15.48% of Alcoa worth $1,318,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AA. Root Financial Partners LLC acquired a new stake in shares of Alcoa in the 3rd quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of Alcoa in the third quarter valued at approximately $33,000. Westfuller Advisors LLC acquired a new position in Alcoa during the third quarter worth $35,000. Huntington National Bank raised its position in Alcoa by 167.9% in the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 789 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new position in Alcoa in the third quarter worth $53,000.

Alcoa Price Performance

Alcoa stock opened at $66.67 on Tuesday. Alcoa has a 52 week low of $21.53 and a 52 week high of $68.40. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $61.64 and its 200 day simple moving average is $47.24. The firm has a market capitalization of $17.59 billion, a PE ratio of 15.08 and a beta of 1.85.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 earnings per share. On average, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, March 10th. Alcoa’s dividend payout ratio is 9.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company set a $68.00 target price on Alcoa in a report on Thursday. UBS Group raised their price objective on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. B. Riley Financial reaffirmed a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Finally, Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alcoa has a consensus rating of “Hold” and an average price target of $50.45.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.